OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS
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Valuation Tracker By Industry Sector
Valuation Tracker By Sector
The Viridian Value Tracker is the most comprehensive valuation product in the industry.
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- A broad set of 12 valuation measures assures applicability, regardless of whether the company has analyst coverage or revenues. The typically presented EV/ Projected Revenues and EV/ Projected EBITDA are available for less than 1/3 of the cannabis companies we track.
- Most valuation studies present only the average valuation measures, while the Tracker goes one step further and shows the distribution of values (the quartiles, median, and dispersion) for each measure. This gives users a more complete view of how companies in the cohort group are valued.
Week ended 12/13/2024
Sector Valuation – Whatever you do, don’t look down!
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- With the MSOS ETF bouncing off new lows, the EV/2025 EBITDA of the 30 analyst-rated global cultivation and retail companies is back to 4.50x from a previous read of close to 4x! Our preferred Adj EV/ EBITDAR measure, which adds in tax debt and leases, is actually lower at 6.0x vs 6.3x. Our bottom line is that the MSOs aren’t really as cheap as the standard measures make them look. What’s in YOUR EV?
- Still, with Glass House raising equity, the Cansortium/RIV deal closing and a 4-way all-stock M&A deal announced, it feels a little bit like we are finding the bottom. But we are ready to disavow ever saying that!
Week ended 12/13/2024
Sector Valuation – Whatever you do, don’t look down!
-
- With the MSOS ETF bouncing off new lows, the EV/2025 EBITDA of the 30 analyst-rated global cultivation and retail companies is back to 4.50x from a previous read of close to 4x! Our preferred Adj EV/ EBITDAR measure, which adds in tax debt and leases, is actually lower at 6.0x vs 6.3x. Our bottom line is that the MSOs aren’t really as cheap as the standard measures make them look. What’s in YOUR EV?
- Still, with Glass House raising equity, the Cansortium/RIV deal closing and a 4-way all-stock M&A deal announced, it feels a little bit like we are finding the bottom. But we are ready to disavow ever saying that!
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